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Chinese manufacturer Zhejiang Geely Holding Group Co.

has acquired a stake worth about 7.3 billion euros ($9 billion) in Daimler AG to become the largest investor in the German automaker.

Daimler confirmed the holding in a regulatory filing, shortly after Bloomberg News first reported that Geely has been building up a stake of just under 10 percent through purchases in the stock market in recent weeks. The German company said it welcomes another major investor.



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Chinese Automaker Geely Shells Out $9 Billion For 10% Stake In Daimler AG

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